25-year old Martin has been with the Rams since February 2013, initially joining on loan, before moving to the iPro Stadium permanently that summer.
The once-capped Scottish international ended last season with 25 goals - 20 of those in the Championship - claiming the clubs top goalscorer award, as the Rams missed out on promotion to the Premier League by the skin of their teeth.
His form last season was rewarded with his first ever international call up, and his first cap for the Scotland national team came in May of this year, and it appears as if the forward has continued his great form into this season, netting four goals in six starts so far.
Whilst he failed to commit his future to the club over the summer, with Jeff Hendrick, Will Hughes and Craig Bryson all signing new deals, the Scot has finally quelled any rumours of a move away from the club by agreeing a new four-year deal.
Speaking to the official Derby website, head coach Steve McLaren revealed his pleasure at the news, with Martin a central figure in his playing squad.
The former England manager said: “I think it is fair to say that we are delighted Chris Martin has signed a new four-year deal.
“He is fast establishing himself as a top Championship striker and we’re convinced he can continue to develop too.
“He is the focal point of our attack but there is so much more to his game than scoring goals.
“He brings others into play and he is a real presence for us.
“We’re delighted he sees his long-term future at the Club.”
Martin moved to Derby from Norwich City, whom he played for since 2006, making 102 league appearances for the Canaries. Loan spells with Luton, Crystal Palace and Swindon preceded the move to Derbyshire.